Release date: 2014-09-18

On September 12, ReWalk Robotics (Nasdaq: RWLK), an Israeli exoskeleton system provider, landed on NASDAQ. The company's share price soared 113.33% on the first day of listing. On September 15, the stock continued to soar by 45.12% on the second trading day. In just two trading days, ReWalk Robotics' share price soared from $13.60 per share to $37.15, a three-fold jump.

ReWalk Robotics has two products, ReWalk Personal Edition and ReWalk Rehabilitation Edition; the former is mainly suitable for home and work environment, while the latter is used for clinical rehabilitation. As of August 1 this year, ReWalk Robotics sold 62 Rewalk Rehabilitation Editions and 19 Rewalk Personal Editions. At a price of $60,000 per unit, the company’s total sales are less than $5 million. And Rewalk is not yet profitable. As of the end of last year's fiscal year 2013, the company's revenue was $1.59 million, up 64% year-on-year; the net loss for the same period was $12.18 million, an increase from the 2012 net loss of $6.66 million. As of the second quarter of this year, the company's operating income was $500,000, a doubling year-on-year increase and a net loss of $4.69 million. But this is a start-up company, but it has been madly hailed in the capital market. Let's take a look at the specific products of this company.

The company's Rewalk Personal Edition received EU CE certification at the end of 2012 and FDA certification in June 2014. Rewalk is the first FDA-approved personal use product. Rewalk Rehabilitation is currently being promoted at treatment centers in the US and EU. Rewalk's technology uses a somatosensory chip to capture the patient's physical movements and help walk. Rewalk uses a battery to drive the motor at the joint, and can sense changes in the user's center of gravity during walking. In addition to walking, Rewalk can help users stand up, sit down, and step up and down the stairs. Users can use Rewalk to install and remove them themselves.

According to the Israel Times, the system has been tested in Israel, the United States and Europe for a long time. Some people involved in the ReWalk test phase project have started using the device. Clinical studies have shown that in addition to providing the wearer with the ability to stand and walk independently, ReWalk can also give the user a mental health belt as the user gains a more positive self-image in the process of gaining independence and being able to control their actions. Come a lot of benefits. In addition, studies have shown that ReWalk can improve cardiovascular health, reduce adipose tissue, strengthen muscles, and improve bowel function.

According to the American Society of Spinal Diseases, there were 273,000 people with spinal injuries in the United States in 2013, and life needs to use wheelchairs. An additional 12,000 people are added each year. Of these, 42,000 were retired and injured, and they were eligible for free rehabilitation at 24 treatment centers across the country. According to the statistics of the American Spine Data Center, motorcycles accounted for the most injuries, accounting for 36.5% of all patients, 28.5% of fallen injuries, 14.3% of violent incidents, 9.2% of sports injuries, and 80% of male patients. ReWalk Robotics expects 200,000 people in the US to be potential users.

Dr. Gouffre, the founder of ReWalk, is also legendary. Dr. Amit Goffer, who graduated from the Israel Institute of Technology in 1975, caused a high paraplegia in a car accident. In the next nine months, he learned how to use a wheelchair and how to build muscle in the hospital . After leaving the hospital, Dr. Goffer, who was uncomfortable with a wheelchair, formed a team to build a team to help the paraplegic patient to stand up again. The ReWalk was finally developed.

ReWalk Robotics' products are typical of today's hot wearable devices, generally referred to by the term exoskeleton. The term exoskeleton (Exoskeleton) is derived from the animal of the arthropod. In general, the biological world usually refers to the chitin surface layer with tough properties called exoskeleton. The most important role of the exoskeleton is to protect the relatively fragile body and organs of the organism. The shells of animals such as crabs and shrimps that we usually see can be called exoskeletons. The earliest human in vitro bone assist robot was a Hardman assisted robot developed by GE in 1966. At the beginning of the 21st century, the US Department of Defense Advanced Research Projects Agency (DAPRA) funded the development of military-assisted robots. The first generation of products includes RTN (Raytheon) XOS (authorized from Sarcos) and LMT (Lockheed Martin) HULC (human exoskeleton weight-bearing system). , authorized from Ekso). From 2001 to 2005, several universities around the world began to develop exoskeletons for lower limb assisted robots. These systems will be initially put into rehabilitation use, and will be gradually extended to daily use in the future. Robotic exoskeletons will completely change the rehabilitation and daily life of patients with lower limb paralysis. . In addition to ReWalk Robotics, the more well-known medical exoskeleton projects include HAL stripped from the University of Tsukuba in Japan, Ekso from UC Berkeley, Rex from New Zealand startup and Indego from Parker Hannifin, a motion control technology company.

Source: Medical Device Innovation Network

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